Coins might not be the first thing you think of when you think of China. However, the Chinese Mint in the People’s Republic of China is one of the rising stars of the precious metals industry with its commemorative coins. While not known for producing a variety of coins annually, its primary collection is one of the most famous among investors and collectors alike. The Chinese Panda coin is a sovereign product with eagerly-anticipated yearly releases.
Want to learn more about this fascinating mint with a storied history? Read on to find out more.
What is a Mint?
First, let’s start with some background information. If you’re new to the bullion world, you might be wondering, “what is a mint?” Mints are facilities that produce coins for use as currency or for sale to collectors. National mints produce coins recognized by the government as legal tender. The mint is also responsible for the distribution of the currency, protection of the Mint’s assets, and overseeing production facilities.
What is the Chinese Mint?
The Chinese Mint is a subsidiary company of the Central Bank of the Republic of China. The mint produces melting circulation and commemorative coins as well as medals for government institutions and businesses.
The History of the Chinese Mint
This Mint has an incredibly storied history, clouded by many wars and relocations. Originally called the Shanghai Mint, it was established in 1920 but was quickly renamed the Central Mint in 1928 after Northern Expedition forces led by the Kuomintang invaded Shanghai. After the name change, it became the subordinate of the Ministry of Finance. The head of the Central Mint was an Australian-Chinese merchant by the name of George Kwok Bew, an associate of Sun Yat-Sen, the Father of the Republic of China.
The Central Mint has moved around quite a bit since being established. It was relocated further inland in Mainland China during the Second Sino-Japanese War. In 1946, after the National Revolutionary Army won the war against the Japanese, the company moved back to Shanghai. During the late stages of the Chinese Civil War, Shanghai was taken over by Communist forces in 1949. The Central Mint was split up, with one part evacuated to Taiwan, while the remaining equipment and personnel were reorganized by the Communist military administration in May of 1949 as “the People’s Mint,” now the Shanghai Mint. After, the Central Mint officially relocated to Taiwan and set up a facility in Taipei. The Mint then became a subsidiary of the Central Bank of the Republic of China. In 1976, the facility then relocated to Gulshan Township in Taoyuan County where it remains today as the Central Mint.
Chinese Mint Coins From The Bullion Game
The most recognizable coin is the 30-gram Silver Panda coin and the 1 oz Silver Panda coin known for its yearly changing design. These coins are .999 fine silver featuring the Hall of Prayer for Abundant Harvests in the Temple of Heaven. The design features the phrase “People’s Republic of China” on the Obverse side with the reverse side depicting the iconic Chinese panda eating bamboo.
Shop coins from the Chinese Mint from Bullion Express’ selection today!